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During the first day of listing on the Stock Market for 5,693 million. more than 259 thousand euros were sold. Ignitis Group shares. The share price at the end of the trading session was 22.3 euros, slightly less than the price of the initial public offering (IPO, 22.5 euros)
According to Marius Dubnikov, the high interest and turnover show unmistakable first day success.
“The first day of trading is definitely a success. The worst thing for a company is when its shares are not trading or are trading slowly, especially in the early days,” Dubnikov told BNS.
According to him, the Ignitis Group share price was also expected to not fluctuate significantly in the first days of trading, as the IPO was already executed at a low level.
“The organizer of the IPO probably contributed a little bit, because the organizers support the price at least in the first days, so that investors do not suffer a negative attitude if the price goes down,” Dubnikov said.
“The fact that the price has not changed is quite characteristic, because after the IPO the negotiation is carried out at a low price level and stocks tend to behave in this way,” said the analyst.
According to him, trading is likely to be as active at first and then slow down when investors hit their targets.
“In the first few days, we will probably see a more active trade, then it will hedge a bit. Investors are likely to take whatever action they want to take. These are some who perhaps wanted a short spin and hoped to make a very quick profit. The second is waiting increase and form normal positions, “said M. Dubnikov.
“Trade will be active for a while, but gradually the volume of business should increase, because most will meet their targets and then (trade – BNS) can be a bit calmer,” he believes.
Ignitis Group’s IPO price was € 22.5, during which € 20 million were distributed. shares, accounting for 26.9 percent. capital.
The Ignitis Group IPO is the largest IPO ever by the Baltic company, during which a total of 450 million. euros.
Ignitis Group’s shares are listed on the main Nasdaq Vilnius trading list under the symbol “IGN1L”. International Certificates of Deposit for shares are listed on the London Stock Exchange under the symbol “IGN”.
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